Deep Industries Ltd (NSE: DEEPINDS) Q1 2026 Earnings Call dated Aug. 05, 2025
Corporate Participants:
Unidentified Speaker
Paras Savla — Chairman & MD
Rohan Shah — Chief Financial Officer
Analysts:
Unidentified Participant
Raman KV — Analyst
Nirvana Laha — Analyst
Deepak Poddar — Analyst
Rajesh Jain — Analyst
Viral Shah — Analyst
Pankaj Motwani — Analyst
Presentation:
operator
Ladies and gentlemen, good day and welcome to the Deep Industries Q1 FY26 earnings conference call hosted by at Factors Prior. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing Star then zero on a Touchstone phone. Please note that this call is being recorded with this. I now hand the conference over to Mr. Paras Chawla, Chairman and MD of Deep Industries for their opening remarks.
Thank you and over to you sir.
Paras Savla — Chairman & MD
Good morning everyone. It gives me immense pleasure to speak to you all today as we present our first quarter performance for the financial year 2026. Thank you very much for joining us. Our reasons race release and investor presentations are available on our websites and on the exchanges. I believe you all had a chance. To go through it. I am joined by Mr. Rohan Shah, Director Finance and CFO who will assist me in answering your queries after my brief. He will share the financial performance of the company in detail and we will take your questions thereafter. I am pleased to present the promising outlook of India’s oil and gas support services sector. A robust strategic imperative for national energy security is catalyzing unprecedented upstream activity thereby expanding the market for our specialized capability. This emerging exploration and production landscape directly translates into robust demand for advanced support services. As India progresses towards energy self reliance, our sector will play an integral role in unlocking its hydrocarbon potential.
We believe this represents an exceptionally opportune moment for strategic investment in India’s dynamic oil and gas support services market. Aligning with national objective of self reliance in hydrocarbons and capitalizing on the available opportunities. Industries limited Is strengthening its presence across value chain through continued offering of value added solutions for exploration and production segment. Continuing with our last year’s growth momentum, the first quarter has witnessed robust activities across all segments. We successfully took charge of the Rasmussic field enhancement operations and have already started with baseline production. We fully expect this to significantly boost our output in the coming quarters.
In another significant development, we secured a letter of award from Oil India Limited for the hiring of workover rigs valued at rupees 45 crore and has secured a rupees 96.72 crore contract from Oil India for seven years charter hiring of workover rigs in Assam and Arunachal Pradesh. Adding to this positive Momentum, our Prabhup Baj has began generating revenue in May 2025 marking yet another crucial milestone in our diversified operations. These developments collectively highlight our strong operational progress and position us for a very positive financial outlook. On the midstream front, Green Industries continues to operate one of India’s largest fleets of gas compression units under services contract.
We are also scaling up our modular gas processing offerings under a lease operate maintenance model, particularly in high condensate and far lower gas zones. These solutions are increasingly being adopted by PSU clients seeking cost effective and scalable processing support. Our strategic priorities for the remainder of. FY26 are clearly defined. We aim to maximize asset utilization and safety across our drilling and workover fleet, expand our footprint in EOR and unconventional segments through new PCs, scale up charter hiring, development of gas processing plants and pursue selective value accretive M and A to broaden our service capabilities in order. We are confident in our strategy, our people and our execution capability. With a strong start to the year, a favorable policy environment and rising energy demand, these industries is well positioned to deliver sustainable growth and long term value. With this, I now invite Mr. Rohan Shah to provide a detailed overview of the financial performance for quarter FY26.
Following his remarks, we will be happy to address any questions you may have.
Rohan Shah — Chief Financial Officer
Thank you, thank you Paras Bhai Investor Friends, thank you for joining the call today. Happy to share with you another stellar quarterly performance of Deep Industries Ltd. All the comparisons are on year on year basis which would provide fair evaluation. Revenue for Q1FY26 rose to rupees 199.5 crore up by 61.6% year on year. Control over costing and operational efficiency have helped US post 54.7% bio y growth in EBITDA to rupees 95 crore in Q1FY26 with EBITDA margin of 44.6%. We have been maintaining EBITDA margins in the range of 40 to 45% providing us a decent cash flow to strategize our future growth trajectory.
Net profit for the first quarter was at rupees 61.7 crore up by 59.3%. Year on year as on date, our order book stood at Rupees 3051 crore up by 152.15% year on year. As we look ahead to the remainder of FY26, peak industry stands on a strong operational and financial foundation. The momentum built over recent quarters driven by disciplined capital allocation, efficient cost structures and consistent contract execution positions us well to navigate evolving market dynamics and capitalize on emerging opportunities. As far as we highlighted, our success is anchored in execution strength and strategic foresight. From A financial standpoint, we remain focused on sustaining healthy cash flow, optimizing return on deployed capital and supporting the group’s growth ambitions With a prudent, performance driven approach.
With a clear roadmap and robust fundamentals, we are confident in Deep industry’s ability to deliver long term value to all stakeholders. With this, I now open the forum for question and answer. Thank you.
Questions and Answers:
operator
Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question, press star and one on the Touchstone telephone. If you wish to remove yourself from the question queue, you may press Star and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we’ll wait for a moment while the question queue assembles. The first question comes from the line of Raman from Sequent Investments. Please go ahead.
Raman KV
Hello sir. Congratulations on good set of numbers. My first question is with respect to the revenue growth. We have achieved around 60 plus percent. Revenue growth during this quarter. Is this a one off or is it was this on the back of acquisition? Recent acquisition of Kanza Energy and can you throw some high light on how will be the growth from this quarter onwards?
Paras Savla
So the growth is primarily on result of execution of various different contracts on our various service segments which has been awarded last year and we have executed in Q1. So there is no contribution from Kanla Energy in revenue. So we are expecting Kanla to start contributing from next financial year. So growth is primarily because of our all varied services contracts and their efficient execution.
Raman KV
So going forward in the coming quarters can we expect the growth to be slowed down because you have over executed order or you can continue this growth?
Paras Savla
So we are expecting growth on year on year basis for more than 30% based on our existing order book itself. And this revenue generation is a testimony of execution of those contracts on time. So similar kind of growth is expected over a period of time and for at least next two to three years we should continue grow with same kind of pace.
Raman KV
Okay sir, so my next question is with respect to Karnal Energy one is the previous quarter you took around 208 crores of write off with respect to the receivable. And you also said that you are optimistic about getting back half of the receivable. Do we expect that to continue and can we expect the margins to improve due to this merger?
Paras Savla
So the write off we took in March was primarily on of inventory and not of receivables. And for receivables we are continuously following up with them for their recovery and we are quite positive that we would recover quite a good or decent amount out of old receivables.
Raman KV
Answer about the margins.
Paras Savla
Margins gonna improve going further. So the contribution from Dolphin once it starts increasing in overall revenue pool, overall margin would definitely increase on EBITDA level. And after starting contribution from Kanla also it will further improve our operating margins.
Raman KV
And so with respect to Dolphin, can you give any guidance of how much revenue can we do in FY26?
Paras Savla
Dolphin, we are quite positive on its growth and revenue largely for this financial year is almost fixed kind of it because we have entered into a contract for $30,000 a day and that operation has already started. So if we put it in numbers, it should be around 100 crore a year kind of revenue.
Raman KV
And sir, with the robust demand in the and across the sector, even with respect to robust demand in natural gas as well as normal oil, do you expect to add any additional fleet and what will be its contribution in the upcoming financial year?
Paras Savla
Yes. So with regards to the demand in the industry pertaining to our kind of services are excellent and we are anticipating good amount of growth going forward with increasing in demand. So we believe this momentum should continue at least for next three years.
Raman KV
And are you planning to add more fleets to your existing fleet?
Paras Savla
Yes, on the opportunity basis we would definitely add new equipment in our fleet. We have recently been awarded with two new rig contracts and we are adding two new rigs in our fleet. So going forward as well as and when opportunity comes, we will add new equipment in R fleet.
Raman KV
The two new bricks. Is this training rig or. Just a. Follow up on you. Hello.
operator
May I request you to join the queue for a follow up question? Sir, thank you so much. The next question comes from the line of Nirvana Laha from Badrinath Holdings. Please go ahead.
Nirvana Laha
Good morning. Thanks for the opportunity and congratulations on a great set of results. My first question is on Dolphin and Prabha. So at 90 to 100 crores a year, the quarterly run rate of revenue should be around 23 to 25 crores. Right? So this quarter it was 16 crores. Is it because we started the contract in May and not in April?
Paras Savla
Correct.
Nirvana Laha
Okay. And sir, in Dolphin we see an interest and depreciation cost of 2 crore each in this quarter. Q1 so is that the run rate that we can expect for the rest of the year or is there an escalation expected there?
Paras Savla
It would be in range of that only.
Nirvana Laha
Okay, okay. And sir, you mentioned that standalone revenue this quarter increased because of execution of contracts. Has the PEC contract started contributing and if so, how much?
Paras Savla
Yes, PEC has started with the baseline production. So the growth revenue we are expecting from H2 onwards. So it has started with that minimum fixed price against the baseline production.
Nirvana Laha
Okay, so we haven’t recognized any revenues against that contract since you won.
Paras Savla
We have recognized revenue but that is a minimum fixed fee which we are getting to maintain the baseline production.
Nirvana Laha
Can you give us the quantum how much we have registered?
Paras Savla
It’s not material so it’s a significant around 1cr month kind of.
Nirvana Laha
Okay, got it. And you had said that 160 crore capex will be required for this contract. So when do you expect, which quarter do you expect that capex to start happening?
Paras Savla
So it should start probably later in this financial year and would be completed by next month.
Nirvana Laha
Got it. And so coming to this quarter we have seen like an 82 crore kind of EBITDA number. You mentioned that the standalone growth has come from execution of existing contracts. So just following up on an earlier participant question, is there a little bit of lumpiness here which means this 54% kind of growth should not be extrapolated for the remaining nine months and we should look at 30, 35% growth in standalone only.
Paras Savla
So this kind of growth when we are comparing it is year on year and for us it has been history that has always been least quarter in our history. So when we are comparing this performance with last year’s Q1 this growth appears quite high. But nevertheless growth we are gunning is obviously it’s a great amount of growth which we are gunning towards and we expect at least 30 plus percent kind of growth going forward.
Nirvana Laha
Got it. Sir, last question from my side Energy Dolphin, we have certain assets where there could be more write off receivables, inventory, we don’t know, maybe other assets also can you give us an overview of what is the asset pool across these different categories across Dolphin and Kanla which may require some kind of write off? And what is your expectation for write offs in FY26, FY27? I’m sure sir, when you’re looking at the assets and doing budgeting you will have a kind of figure in mind. Last quarter the numbers sort of, you know, came out of the blue.
Your explanation was well understood. But if you can give us a little bit of understanding of what is the asset pool.
Paras Savla
The assets out of this targets are primarily receivables. They are old receivables for which we have not paid while acquiring this company. So these old receivables which we believe are bonus for us with pegging along these acquisitions and for those receivables we are trying our hard to recover them. So we have got some decent amount of success in recovering old receivables of Dolphin and we believe that we should also get some good amount of recovery out of Kanla old receivables as well. Speaking today we are not anticipating any kind of write off in FY26. Anything to say on FY27 would be too early.
Nirvana Laha
Could you tell us the amount of the total old receivables between Kandla and Dolphin?
Paras Savla
The total amount I think they are. More than 350 crore types. I am out Exactly. I am not having it is mentioned in my previous quarter’s results.
Nirvana Laha
Sure. Sir, wouldn’t it be prudent to have some provisioning for this? Sorry, last question ma’, am, if I can just complete this wouldn’t you come.
operator
In the queue for follow up question Sir? Thank you so much. Before we proceed with the next participant a request to all participants please limit your questions to two questions per participant and join the queue for a follow up question. Thank you. The next question comes from the line of Sudeep Anand from Systematics group. Please go ahead.
Unidentified Participant
Thanks for taking my questions and many congratulations for a good set of numbers sir. So first question on rate this charter. Has rates on rigs are dollar denominated. Or rupee denominated and whether we will. Get the benefit of the rupee depreciation.
Paras Savla
So the recent awards are of wacor rigs and their rates are in rupees. Not in dollar
Unidentified Participant
and the previous contract which is going on.
Paras Savla
Yeah. So we have six drilling rigs. So drilling rigs are getting dollar rates. I think five of them are into dollar contracts and yet all other rigs are into rupee contracts.
Unidentified Participant
Okay. And the recent contract which we have received from Oil India will going to. Be deployed.
Paras Savla
So we have been given mobilization time of around five months. Okay so somewhere around Q4F of 26. Correct.
Unidentified Participant
And so what are Capex plan on Dolphin? How many task we are expecting in FY26 and 27.
Paras Savla
So we have planned to add few vessels and dolphins fleet in current financial year. So we have shortlisted one or two tugs and one or two vessels. So having an opportunity we wish to add at least two of them in this financial year.
Unidentified Participant
Okay, perfect. Thank you sir. I’ll join the crew for the. Thank you.
operator
Thank you. The next question comes from the line of Deepak Podas from Sapphire Sapphire Capital. Please go ahead.
Deepak Poddar
Yeah. Am I audible sir?
operator
Yes.
Deepak Poddar
Thank you very much for this opportunity. So just first up I wanted to understand in terms of Kandla what sort of contribution we can expect. I mean you mentioned from next year we are. We are expecting some. Some kind of contribution. Right. So what sort of top line, what sort of margins this company can see for us?
Paras Savla
See it is little early to answer this question because Kanla primarily we were focusing on get those hydrocarbon fluids which we use it in our drilling operations. So our first focus would be to take care of our internal consumption and then to scale it up going forward on top line or margins we have not yet reached to the number.
Deepak Poddar
Okay. But any rough indication would also be very helpful. I mean I don’t want to pinpoint a rough range would also be helpful.
Paras Savla
For that. Also we’ll have to wait for quarter or so then probably we can give some idea. Largely we believe that it should improve our operating cost by at least by 1 and a half to 2% from next financial year.
Deepak Poddar
Operating cost in the sense. I mean it will bring some efficiency. I mean.
Paras Savla
Correct.
Deepak Poddar
Okay, okay. Okay. And in terms of your pec contract, that’s 10 year contract. Right. So per year 140 crores revenue accretion can we expect, I mean from this year onwards.
Paras Savla
So that contract will start contributing later on this financial year. So for this financial year we are expecting around five to six months kind of revenue from that particular contract. Full year revenue we can expect from next financial year.
Deepak Poddar
Okay, but per annum 140crores would be a right kind of indication.
Paras Savla
Yeah, approximately around that. Only it can be lower. It can be higher but largely in that range itself.
Deepak Poddar
Okay, okay, fair enough. And given that first quarter we have grown so handsomely so. But we still seeing 30%. I mean are we being conservative and we are seeing 30% kind of a growth because.
Paras Savla
Because we are seeing 30% year on year on yearly basis. So in our business always suggest to compare it on year on year basis, quarter on quarter. Maybe sometime it looks very high or sometime it looks flat also. But year on year we believe we should be growing more than 30%.
Deepak Poddar
The reason I’m asking this because in your second half this contribution from PEC will also come and DOLPHIN contribution will also increase by maybe 9, 10 crores because we are had seen only two couple of months of impact in this first quarter. So ideally you have lot of levers where your revenue can increase. Right?
Paras Savla
Yeah. Yeah. So it is always good to be conservative.
Deepak Poddar
Yeah, that’s right. Fair enough. And just one last small thing. What’s the Dolphin margins at 100 crores revenue.
Paras Savla
That’s huge. I would say it’s more than 65%. Because the contract which we have entered is net of OPEX rate. And so my margin would be 60,000 plus.
Deepak Poddar
Okay. Okay. That’s very helpful, sir. I mean that would be from my side all the way by. Thank you so much.
Paras Savla
Thank you.
operator
Thank you. The next question comes from the line of Shitish Jain from Access Capital. Please go ahead.
Unidentified Participant
Hi. First of all congratulations for your fantastic event.
operator
Your audio is breaking a little bit. May I request you use a handset please?
Unidentified Participant
Yeah.
operator
Yes sir, it is better. Please go ahead.
Unidentified Participant
Yeah.
Paras Savla
Sorry, your voice is absolutely not audible. Can you say it little louder?
operator
Sir, may I request use your handset please. The audio is a little low. Can you hear me? It is still low, sir.
Unidentified Participant
I just wanted to know it. How much field you have in the o. How much you’re coming to bed.
Paras Savla
Sorry, I didn’t get the question.
Unidentified Participant
I’m getting back.
operator
Yes sir, please come back in the queue. Thank you so much. The next question comes from the line of Rajesh Jain from RK Capital. Please go ahead.
Rajesh Jain
Yes, sir. Hi. Good morning. So I started tracking your company just from the last quarter. And I was just going through the company history and I. I came to know that the earlier Deep industry was probably, you know merged Into Prabha Energy Ltd. And. And. And this Deep Industries is the demerge entity of the earlier one. Right now are there any related party transactions between your company and Prabha Energy or any of the other related parties? So have you given a loan to any related parties? And if yes, then at what rate of interest?
Paras Savla
Yes. So the recent Deep Industries is the demerg entity as you rightly said. And with regards to related party transaction I think all transactions are disclosed in our annual reports. We have given loans to Prabha Energy which were given in past. They are still standing there and they carry rate of interest of 12%.
Rajesh Jain
You have given loan to Prabha Energy at 12% interest rate. Okay. Understood. Okay. Sir, that the receivables that you mentioned in the last quarter that was around 363 crore. So in how much time you. And you clarified in today’s call that this year FY26 there will be no additional write offs. So in how much time you are expecting the old receivable to be collected?
Paras Savla
So we have given timeline of two years to collect this receivables within two years after giving all efforts will decide for next course of action. Okay. And I think it would be again important to mention here that these receivables are not paid. Receivables acquisition cost is very minuscule while getting this company along with receivables.
Rajesh Jain
Okay, okay, understood. You have guided for a 30% growth in revenue on a full year basis now. 30, 35%. So, so how much can a 30 35% growth in revenue lead to increase in profit? Will the profit growth be also 30, 35% or it will be materially more than 30 35%?
Paras Savla
Yeah, it should be little more than 30 35% because we are expecting improvement in margins as well.
Rajesh Jain
From this year itself.
Paras Savla
Correct.
Rajesh Jain
In the last call you had mentioned about some fundraising plans which you had deferred for and you were waiting for better market conditions. So now that the conditions are slightly better, so what are your fundraising plans now?
Paras Savla
So we are just reviewing it and if we’ll find it the correct time, we can think of it. So all approvals are in place. We’ll just have to time it.
Rajesh Jain
Okay, so my last question, if I can just.
operator
May I request you to join the queue for follow up question? Okay, thank you. The next question comes from the line of Manan Shah from Moneybee Investment Advisor. Please go ahead.
Unidentified Participant
Yeah, hi sir, thank you for the opportunity and congratulations for a good set of numbers. So my first question is on the standalone side, is there any major change in the revenue mix on a standalone number? Because if I look at our gross margins as well as EBITDA margins at standalone levels, there is some compression over there. So going forward, is this sort of margins that we should look forward to at a standalone basis or there has been some major shift or one off at the standalone level? And also on the other income, what are the major contributions in the other income?
Paras Savla
Yeah, so revenue mix is more or less same. So there is no major change in revenue mix. Margins overall are in range 1 or 2% here and there. So there is no one off kind of element here in this mix. So it would be more or less in line as we are into the business which is backed by heavy equipment, more or less, you have some of other expenses related to repair maintenance of those equipments. Maybe little higher in one quarter, little less in another quarter, kind of. So Q1Q I would again suggest, please do not compare Q1Q in our business.
Unidentified Participant
Understood. Secondly, my question was on the earlier participant you mentioned about acquiring some tugs and some vessels for Dolphin. What sort of capex will this equipment entail?
Paras Savla
So the capex which we are eyeing on in Dolphin is in range of around 350 to 400cr types for acquiring this vessels and based on opportunity. So we will follow the same philosophy which we are following in deep that will do Capex only on getting from order. And I think that philosophy will continue to follow in Dolphin as well.
Unidentified Participant
And in terms of funding for this capix.
Paras Savla
Yes, we are exploring various options in Dolphin including taking debt and other structured products and equity as well. So depending on the annualization of Capex we can take it forward.
Unidentified Participant
And on the other income working the major contribution from other income.
Paras Savla
So other income more or less is from Treasury. This particular year we had one item of profit on sale of asset to the tune of around 2.7 crore. I think that is one item which is in addition to normal treasury income.
Unidentified Participant
Okay. And in terms of the gas processing facility on charter and higher, any other major contracts that we have built and then overall what is the bid pipeline that is looking like for the company?
Paras Savla
So currently we are operating three different contracts for this gas processing. One with cane oil and gas and two with ongc. And currently there is no further bid on those. But we have given expression of interest with two few more contracts.
Unidentified Participant
Okay. Sorry, you were saying something?
Paras Savla
Those expression of interest will convert into bidding going forward.
Unidentified Participant
Okay. And overall what is the big pipeline looking like?
Paras Savla
It’s close to around 700.
Unidentified Participant
Okay, thank you. I’ll get back in with you.
Paras Savla
Thank you.
operator
Thank you. The next question comes from the line of Ricken Shah from the boring amc. Please go ahead.
Unidentified Participant
Hi sir, congrats on a great set of numbers. I wanted to ask pertaining Prabha, what are the timelines for the pipeline to come in?
Paras Savla
Your voice is breaking, could not hear anything.
Unidentified Participant
Hi. Hi. Am I audible now?
operator
Yes sir, you’re audible. Please go ahead.
Unidentified Participant
Yeah, so yeah, I wanted to ask what the timeline would be for the pipelines in Prabha. Hello.
operator
Hello sir, were you not able to hear the question? Is the audience?
Paras Savla
We could not listen to the question.
operator
Okay, sir, can you please repeat the question?
Unidentified Participant
Sure. So I was asking what the timelines. Would be for the pipelines in Prabha Energy.
Paras Savla
I think this is not the forum to answer about Prabha Energy. We should avoid that question.
Unidentified Participant
All right. So the other questions on Arjun and. Product tax and have been answered. So I have no other questions.
operator
Thank you. The next question comes from the line of Vinay Maheshwari from ige. Please go ahead.
Unidentified Participant
Hello. Am I audible?
operator
Yes sir. Please go ahead.
Unidentified Participant
So sir, you mentioned about the Dolphin. For the 300 or 350 crore. Was it related for the Capex or. It was for the acquisition.
Paras Savla
Apex?
Unidentified Participant
Oh, it was for the Capex.
Paras Savla
Yes, yes.
Unidentified Participant
And what are the current utilization of. Our workover rigs and normal rigs?
Paras Savla
Yeah, 100. Utilize.
Unidentified Participant
100. Okay, thank you.
operator
Thank you, thank you. The next question comes from the line of Neil Kunj from Coach Wealth Management. Please go ahead.
Unidentified Participant
Hi sir. First of all, congratulations for a good set of numbers. So my question is regarding one of our subsidiaries, RAS equipment. So for last couple of years the. Numbers have been falling and for the last two years I think the subsidiary is lost. So what, what are the challenges we are facing in that segment and what are the utilizations that we are having there?
Paras Savla
The RAS equipment was basically set up. For, you know, packaging the gas compressors. For CD gas distribution. There is a good amount of, you know, fall into that business. And that is the reason not much. Activities are being seen into it while. We are still focused on upcoming opportunities. But as what we are witnessing since. Last year and a half or maybe. Two years now, the activities have been a little slow. As far as the city gas distribution. Activities are going forward. Therefore you are not able to see any major movement into RAAS equipment.
Unidentified Participant
Okay, so going forward, what is the plan for RAS equipment? Like what would we see any, you. Know, demand coming up there that I.
Paras Savla
Believe that market is more, it is more fluctuated and we cannot time it. Properly that when it could be getting good numbers or how could it be. Projected, we are sitting on then infrastructure. And having a good opportunity definitely will embark upon it. So to time it how it is. Going to happen would be difficult for us to comment.
Unidentified Participant
Okay, my second question is regarding the investment that we made in HF Hunter. Of about $2.2 million. So could you give us some flavor? What kind of revenues are we expecting there and what are the margins we are expecting there?
Paras Savla
So that investment is primarily for acquiring one TUG into joint venture and that TUG has started operation in current financial year.
Unidentified Participant
Okay, so what we are expecting.
Paras Savla
Revenue of around 17 to $20,000 a day from that particular tug. And margins would be in range of 50% kind of. Okay, that JV is 37%.
Unidentified Participant
Okay. And we made another 1 million dollar investment in a company called Bricsco Global PT. So could you give us, could you share some details about that?
Paras Savla
I need to check on those part. Currently I’m not having those papers with me.
Unidentified Participant
Okay. Okay. Thank you sir.
Paras Savla
Thank you.
operator
Thank you. The next question comes from the line of Vizel Shah from Ambit. Please go ahead.
Viral Shah
Yeah, congratulations on the greatest set of Numbers sir, just couple of these new contracts which we have won that is three years and seven years are the amount very minimal or it is per year or it is for three years put together.
Paras Savla
The amount of contract is for entire contract tenure.
Viral Shah
Our workover rate will be utilized for the entire contract. Secondly you know what is the order inflow guidance?
Paras Savla
Your voice is cracking.
Viral Shah
Am I audible now?
operator
Can you please remit?
Paras Savla
Yeah, yeah, yeah.
Viral Shah
So what is our order inflow guidance for the full year? And second question is on the update on the what is the update on the production announcement contract of oemc.
Paras Savla
So. The bidding pipeline as far as we have suggested is around 700 crore and of which we are expecting good amount of conversion going forward so we can expect conversion out of that bidding pipeline plus the new tenders we would be bidding going further so to comment on any particular amount is little difficult.
Viral Shah
Okay, fair enough.
Paras Savla
Production enhancement we have taken over that build and have started with baseline production so the process and applications which are required to apply for enhancing the production we have started applying those and as we estimated before we should get some incremental revenue later in this financial year.
Viral Shah
Got it, got it. And what is the capex in regards for this production announcement for the FY26 put together?
Paras Savla
So overall we have Envex of around 160 cr for this production enhancement and that should start in later in this financial year and should be still over to next financial year.
Viral Shah
So it is fair to assume that we will be spending around 70 in this financial year maybe spillover rest in the next financial year.
Paras Savla
It’s in fluid condition so for assumption you can take it can be little here and there.
Viral Shah
Thank you so much and all the rest of each other thank you so much.
Paras Savla
Thank you, thank you.
operator
The next follow up question comes from the line of Nirvana Laha from Badrinath holdings please go ahead.
Nirvana Laha
Thanks for the opportunity again sir I think I heard you mention that you’re Planning to do 350400 crore capex. So given that you’ve acquired a tug for only 2.2 million for 37% kind of stake this B5400 figure looks really big. So if you can help us understand like what kind of assets are we looking at? How many numbers? I know you won’t have exact details and from this capex what kind of revenue and margins can we expect?
Paras Savla
Yeah, so tugs are little less costly than vessels so we are eyeing on acquiring tugs as well as vessels which would be diving support vessel and platform supply vessel. So those vessels are A little more costly I would say almost double than tugs. And the revenue if we talk about from a particular anchor handling tug we can expect revenue of around $17,000 to $20,000 versus revenue from diving support vessel or platform supply vessel would range in $50,000 a day kind. So depending on the opportunity and contract we would go for those capex.
Nirvana Laha
And these PSV or SV if you expect to deploy them in India or are they more Gulf focused or any geography you can talk about.
Paras Savla
As of now, regions other than India.
Nirvana Laha
Regions other than India. Okay, okay. And. And sir, you mentioned that it will it be a capital reason Dolphin or are you also looking at possibilities of another JV formation for this kind of capital?
Paras Savla
As of now we are evaluating various other options. So capitalizing can be an option. TV or equation is also an option. So as of now nothing is crystallized yet.
Nirvana Laha
Sure. Sir, when do you expect this to crystallize? Like how much time do you think it might take?
Paras Savla
Probably by next one or two quarters.
Nirvana Laha
Got it, got it. Thanks. Thanks a lot for answering all the questions and wish you all the best.
Paras Savla
Thank you.
operator
Thank you. The next question comes from the line of Yash from Dainty Equity Capital. Please go ahead.
Unidentified Participant
Yeah, hi. Congratulations on a great set of numbers. My question is regarding, my first question is regarding your qip, right? As far as I remember when your con call happened in your last con call sort of happened, the stock price was at around 440, 450 ish and you said the market conditions were not, you know, right for you to obviously dilute your stake. But obviously that’s one thing I’m really really concerned about as a shareholder. So my question is that what valuation do you think diluting you’re okay with diluting equity in deep industries via QIP and any obviously I’m not expecting you to share a share price but I’m seeing any guidance, any understanding on how you’re looking at the QIP if you’re looking at diluting.
Paras Savla
For us the better or I would say best part is we are good with our available liquidity in a way that business generates good amount of cash and we are sitting on also some good amount of liquidity which can help us in completing our targets of doing capex or acquiring assets and can give us a flexibility to time the dilution and that is how we are not much worried that if my QIP is getting little delayed, my CAPEX requirement or my growth requirement are otherwise being satisfied. So that is how we are in I would say we are in some good flexibility situation where we can time dilution as per our expectation.
Unidentified Participant
Yeah. So just to confirm and conclude from what you’re saying basically is that because, see, because our order book also has grown significantly, right. In the last maybe two years, our order book has grown significantly. Our numbers are fantastic and we have a decent growth trajectory over the next sort of three years. Like you pointed out that you have visible growth at least for the next three years. So diluting at a inferior price would be something that would be very disappointing as a shareholder. I just wanted to kind of point that out and of course the rest is up to you.
And my second question is regarding the receivable part, right? You said we had around 300, 350 crore of receivables. Right. But let’s say why didn’t we write it off? Why didn’t we write off more in terms of inventory loss or receivable loss? Because we could have gained the tax benefit and then we could have written it back when we got the money. And if we got the money. Right. Because you can technically basically try and receive the money back. You can try and get the money back even after you write it off. Am I, am I getting something wrong here?
Paras Savla
From accounting or investor perspective, you are right. But if you are into some cases or if you want to bring your debtors into some legal name, right. That amount should be there in your books as receivable. Then only you have right put claim. And I think that factor we are considering. Your point is well accepted and we have deliberated a lot on those areas. But due to some other reasons, we have kept them outstanding till the time we believe that we can recover them. And I think again to mention that we have acquired kanla in just 2 crores and dolphin shipping in just 7 crores.
So practically we haven’t paid anything for getting those receivers.
Unidentified Participant
Yeah. So what, what, what is the quality of these receivables? If you could just point that one last thing out. What is the quality of these receivable? What kind of companies are there on the receivable end? Basically? Any, any idea?
Paras Savla
Yeah, they are good number of customers, more than 200 in numbers. And they are fairly good operating companies. Stands good chance of recovery.
Unidentified Participant
Perfect. Great. Great. So just in case you don’t receive this money, you will look to make another write off in the next. After two years, right? Is what you said. Whatever is not received from this 300, you’ll write it up after two years.
Paras Savla
Yeah. Currently that is the plan, correct.
Unidentified Participant
Okay. Okay. Okay. Thank you. So much and thank you for taking my opinion on the fundraising part. Have a great day. Thank you so much.
Paras Savla
Thank you.
operator
Thank you. The next follow up question comes from the line of Manansha from moneybe Investment Advisor. Please go ahead.
Unidentified Participant
Yeah. Hi sir. Thank you for the follow up. My question was regarding these offshore vessels that you’re looking to acquire. Now at least on the offshore rig side, you know with the correction on the oil prices, you’ve seen the rig charter higher prices. That is also correct. While on the onshore we don’t see such type of volatility. So these equipments which we are looking to acquire, do these also see that type of volatility as the offshore risks or the pricing are more stable over here?
Paras Savla
No. So these are falls into support service category, these equipments or vessels and they are not having that high volatility as compared to offshore rigs. And I think that is the reason why we are not entering into offshore rig segments.
Unidentified Participant
Understood. So the prices over here are fairly stable.
Paras Savla
Sorry.
Unidentified Participant
So the prices over here are fairly stable. And the contract terms are also like long term, like three years. And like how we have currently they are more of a short term contract.
Paras Savla
So they are in range of 1, 2, 3 years. Sometimes it is more than 5 years also. So depending on the opportunity and availability we can enter into a contract.
Unidentified Participant
Okay. And the basis that you gave earlier is that we would be going for acquiring these assets only after we have some sort of visibility on their deployment.
Paras Savla
Correct?
Unidentified Participant
Okay. Sure. Thank you. Thank you.
operator
Thank you. The next question comes from the line of Mehul from 40 cents. Please go ahead.
Unidentified Participant
Hello sir. Thank you so much for the opportunity. Sir. I’m new to our company so I don’t know what was the last quarter looks like. But I was just going through the. Numbers and I found that we were. In a loss for the consolidated statement. So can you throw some light on what was the reason for the loss in last quarter?
Paras Savla
That was a one time exceptional item. The loss was primarily because of some write off in a company which we acquired from insolvency called Kandla Energy and Chemicals. And we had to write it off inventory which were not there physically and it was showing in books. So that was an exceptional item of. One time loss which was primarily a. Non cash because we acquired that company in just 2 crores.
Unidentified Participant
My second question is about the group commissioner. So are we having deep. We are having deep industries, Deep energy and turbine energy also. All these three are the group companies and which of them are listed.
Paras Savla
Also deep industries and Dolphin is under one group and Prabha Energy is another company. Which is other group. I would say it is not directly in our group. But yes, it is same promoter company, I would say.
Unidentified Participant
And sir, they are also in their listed company, Club Energy.
Paras Savla
Yes.
Unidentified Participant
Okay. And same business.
Paras Savla
They are into different business of exploration and production.
Unidentified Participant
Okay. Okay. And sir, what about the Deep Energy? Deep Energy is itself renamed Energy or it’s a different company. Again.
Paras Savla
Deep Energy has been reverse merged into Prabha Energy.
Unidentified Participant
Right, sir. Okay. Thank you so much, sir. Thank you.
operator
Thank you. The next follow up question comes from the line of Raman from Sequent Investments. Please go ahead.
Raman KV
Hi sir. Thank you for allowing me to ask. A follow up question. So how much is the loan? Did we. How much of loan did we give to Prabha Energy?
Paras Savla
It would be around 90crf.
Raman KV
90Cr answer. This is again with respect to the Dolphin Offshore, you said they are currently six feeds and you’re planning to add at least two feeds by this year. Is my. This thing correct? Understanding.
Paras Savla
I didn’t get your question. Can you see it?
Raman KV
It’s more like a clarification. I just want to understand how many, how much fleet do we have under Dolphin Offshore currently and are we planning to. You said that we are planning to add at least 2ft by the end of this year, right?
Paras Savla
Currently we have two vessels or I would say one bar and one tug operational. And we wish to add two more.
Raman KV
And also sir, with respect to the recent oil from Oil India, you said you are planning to add a workover rig.
Paras Savla
Correct?
Raman KV
How many workover rates are you planning to add.
Paras Savla
Against the recent order? One work. Okay.
Raman KV
Thank you sir.
Paras Savla
Thank you.
operator
Thank you. The next question comes from the line of Pankaj Motwani from Equirus. Please go ahead.
Pankaj Motwani
Yes, thank you for the opportunity. So I have a question on the Dolphin offer part. So just can you share an update on the status of the Dolphin debtors? Like how much. How much of the collection has been collected for the. For our legacy data?
Paras Savla
Sorry, I didn’t get your question.
Pankaj Motwani
So I just want to know the status of the Dolphin data. So like I think we have around 140 crores of old data from.
Paras Savla
Yeah. So of which we have received order in our favor of 31 crore.
Pankaj Motwani
Yes. So I think that order has been issued around five, six months back. But like do we have received any collections from that? Because that data are I think around 2 year old. So like don’t be thinking that we have to provide. We have to wait for provision for that.
Paras Savla
Yeah. So the see in legal matters it takes a time. So the order needs to be solved and then to recover it takes a little time. With regards to provide provisioning. We are evaluating them and we are in constant follow up for recall recovering as well. We have get some good award in our favor for their overseas receivables as well. So having said that we would continue to pursue further recovery.
Pankaj Motwani
And just one more question. So like I was seeing the cash flow statement of Dolphin. So like it was given that around 170 crore of. There was a purchase of 170 crore. So like can you just give me the breakup of that 170 crore? 170 crore. Like what comprise of bars? What. What comprise of tucks? Like what is the amount of the barging?
Paras Savla
170 crore is all for barge only.
Pankaj Motwani
Okay. But I think earlier we have mentioned that like we have done around. We have done refurbishment of around 120 crore. So like the addition particular before What?
Paras Savla
No. So total refurbishment cost reach somewhere around 150 plus and balance would be. I’m not sure. Cash flow of Dalton is not with me as of now. We can take it one on one.
Pankaj Motwani
Okay, got it. Yeah, that was my question. Thank you.
operator
Thank you. The next question comes from the line of Amit AG from EDG Hawa. Please go ahead.
Unidentified Participant
Yeah. Good afternoon sir and thank you for the opportunity. So how are the Rajasthan, Assam and Arunachal Pradesh contracts likely to contribute to the top line in the coming year?
Paras Savla
So it has a mobilization period of five to six months and and post mobilize and it will start contributing it. The contract value which we have given is for the contract tenure. So like Rajasthan contract is 45. Into. Six months and can consider revenue contribution from that. Similarly with the seven year contract.
Unidentified Participant
Could you elaborate on the expected output growth from Raj Mundary post baseline announcement?
Paras Savla
I think that we have already said in past and this call as well that we are expecting around 140 crores of revenue on year full year basis from that particular contract.
Unidentified Participant
Thank you sir. All the rest for the future.
Paras Savla
Thank you.
Paras Savla
Thank you ladies and gentlemen. We’ll take this as the last question for today. I would now like to hand the conference over to Mr. Rohan Shah for closing comments. Thank you everyone for joining this call. It was pleasure interaction with you all. If you have any further queries you can definitely approach us through addfactor or you can directly connect us. We would be happy to answer all your queries. Thank you.
operator
Thank you so much on behalf of Deep Industries. That concludes this conference. Thank you all for joining us. And you may now disconnect your lines.